What if one neighborhood remake could shift how buyers see all of Kirkland? If you live, shop, or commute through Totem Lake, you have watched that shift in real time. As a homeowner or buyer, you want to know what this transformation means for lifestyle and value. In this guide, you will learn what changed, why it matters for home prices, and how to use that insight when you buy or sell in Kirkland. Let’s dive in.
Totem Lake’s new reality
From mall to mixed‑use village
Totem Lake has been planned as Kirkland’s Urban Center, with zoning that encourages higher‑density, mixed‑use growth to bring homes, jobs, and retail into one place. The heart of that change is The Village at Totem Lake, a redevelopment that replaced the old mall with modern retail, entertainment, and on‑site housing, including anchors like Trader Joe’s, Whole Foods, and a theater district. You can explore the project overview on the city’s Urban Centers page and the center’s official site for a sense of the tenant mix and design.
- City perspective on Urban Center planning: Kirkland’s Urban Centers
- Project overview and tenant mix: The Village at Totem Lake
Park, boardwalk, and connections
Public investment matched private development. Totem Lake Park reopened in July 2021 with a wetland boardwalk, new playgrounds, accessible features, and a direct link to the Cross Kirkland Corridor. These upgrades were built to make the district more walkable and welcoming for everyday use. Learn more about the park features and intent on the city’s park page: Totem Lake Park renovation.
Transit and I‑405 access
Totem Lake’s growth came with access improvements. The Totem Lake Transit Center serves multiple King County Metro routes near the EvergreenHealth campus, improving daily connectivity for workers and residents. Recent I‑405 and NE 132nd Street interchange improvements were added to ease regional access and change traffic patterns in and out of the area.
- Transit context: Kirkland Reporter on the Totem Lake Transit Center
- Roadway improvements: WSDOT I‑405 and NE 132nd Street interchange
The scale of change
The Washington State Department of Commerce notes the main redevelopment delivered roughly 336,707 square feet of commercial space and about 851 dwelling units. That size, along with adjacent medical, retail, and public space, is large enough to influence nearby housing demand. See the state summary here: Commerce overview of The Village at Totem Lake.
Why it matters for home values
Amenity effect: parks and walkability
Parks and green space are linked to higher home values in many studies. Reviews often find a positive premium near desirable parks, with effects that fade as distance increases. Totem Lake Park’s boardwalk, play areas, and connections are exactly the kind of features buyers notice. For background on park premiums, see this overview: NRPA on parks and property values.
Accessibility and employment anchors
Shorter commutes and easy transit are value drivers. The Totem Lake Transit Center and the I‑405 interchange improvements reduce friction for daily travel, which tends to support demand. The EvergreenHealth campus nearby is also a steady employment and service anchor that draws residents who want quick access to care and work. Read more about the health system here: EvergreenHealth.
Supply effect and balance
The Village added several hundred apartments and condos. More housing supply can moderate price growth if it outpaces demand, especially in the immediate area. The net impact depends on timing, scale, and buyer preferences. See the state’s project summary: Commerce overview.
Kirkland market snapshot
Kirkland remains one of the Eastside’s higher‑priced markets. As of late summer 2025, a third‑party data source estimated the citywide median sale price around 1.27 million dollars, and market conditions continued to shift month to month. The Northwest MLS reported King County months of inventory generally in the 2 to 3 range in 2025, which is closer to balanced than recent years but still tight in sought‑after pockets. For current context, review the NWMLS Market Snapshot.
What buyers should consider near Totem Lake
- Map your walk: How many minutes on foot to Totem Lake Park, The Village, and the Cross Kirkland Corridor connection? Proximity often supports value.
- Test access: Drive the I‑405 interchange and NE 132nd Street during your commute hours. Note transit options at the Totem Lake Transit Center.
- Check the vibe: Visit at peak shopping and evening hours to gauge foot traffic, parking patterns, and noise tolerance.
- Understand nearby employment: Proximity to EvergreenHealth and retail can be a plus for convenience and resale.
- Review future activity: Ask about planned construction phases or road work that may affect short‑term living conditions.
What sellers should highlight
- Daily convenience: Emphasize walkability to The Village and the park’s boardwalk connection.
- Outdoor living: Stage patios and balconies to showcase easy access to nearby green space and trails.
- Commute clarity: Share typical drive times and available bus routes from the transit center.
- Services at your doorstep: Note proximity to the EvergreenHealth campus and everyday shopping.
- Smart pricing: Use a micro‑market analysis that controls for distance to Totem Lake amenities and specific property features.
Estimating your home’s Totem Lake premium
- Define your radius. Note walking distance to the park, The Village, and transit center.
- Pull true comparables. Control for beds, baths, square footage, lot size, age, and condition.
- Compare by distance. Look for a consistent pattern where closer homes command stronger pricing. Adjust for traffic exposure and noise.
- Segment by property type. Condos and townhomes near retail can behave differently than single‑family homes.
- Cross‑check with current conditions. Inventory levels and interest rates matter. Use MLS‑based data as your foundation. For regional context, see the NWMLS Market Snapshot.
Looking ahead
With a high‑quality park, major retail anchors, improved transit, and a strong medical employment hub, Totem Lake fits the profile of a mixed‑use center that supports nearby housing demand. Added supply may temper price growth at the margins, but the blend of convenience and amenities should remain a draw for many buyers. If you are planning a sale or purchase within a few blocks of Totem Lake, a tailored strategy that accounts for distance, access, and current inventory will put you in the best position.
Ready to discuss how Totem Lake factors into your next move? Reach out to Karen Balkin for a hyperlocal valuation or a focused home search.
FAQs
How has Totem Lake changed in the last decade?
- The area transitioned from a declining mall to a mixed‑use center with retail, entertainment, housing, and a renovated park, guided by the city’s Urban Center plan and anchored by The Village at Totem Lake and Totem Lake Park.
Do homes near Totem Lake sell for more in Kirkland?
- Proximity to parks, transit, groceries, and services is often correlated with higher values, especially within a comfortable walk of the amenities; a local CMA is the best way to measure your specific premium, and research on park impacts supports this trend: NRPA overview.
What are the trade‑offs of living close to The Village?
- You gain convenience and walkability, but you may see more traffic, parking demand, and evening activity near retail and entertainment; check conditions at peak times and watch for short‑term construction tied to recent roadway improvements.
How do transit and I‑405 improvements affect value near Totem Lake?
- Better access usually supports demand; the Totem Lake Transit Center and the NE 132nd Street interchange upgrades improve connectivity for daily travel and regional commutes.
Will new apartments lower nearby single‑family prices?
- Added supply can moderate price growth locally, but the net effect depends on demand, timing, and property type; amenities and access often offset supply effects for many buyers.
Are school boundaries changing because of the redevelopment?
- The redevelopment is commercial and residential, not a school project; confirm current school boundaries for a specific address with official sources such as the city’s planning references and the school district: Kirkland planning code reference.
